Respiri Limited signs joint development agreement with Phenix Health, surges 50%
Shares in Respiri Limited (ASX:RSH), an eHealth SaaS company supporting respiratory health management, hit a high of 11.5 cents on Tuesday, representing a 55% rise relative to its previous closing price of 7.4 cents.
The sharp uptick in the company’s share price was under the highest volumes traded in 2020, underlining the significance of the news released shortly after the market opened.
The signing of a Joint Development Agreement (JDA) with Phenix Health Pty Ltd, an Australian based health workflow designer for virtual healthcare settings (telemedicine) triggered substantial investor interest.
Under the terms of the JDA, Respiri will work to ensure that the wheezo eHealth SaaS monitoring platform is integrated into the Phenix proprietary telehealth platform, patient dashboards and asthma management plans.
Respiri’s world-first technology detects wheeze, a typical symptom of asthma, COPD and respiratory disease to provide an objective measure of airway limitation.
The only platform of its kind, the flagship wheezo® product employs machine learning to provide personalised feedback and education based on the user's personal health data correlated with environmental factors, and enables the sharing of that data, anytime, anywhere with caregivers, physicians and other health care professionals.
Phenix to provide pre-diagnosed patients
Phenix will we be responsible for providing patients already diagnosed with asthma the option of using wheezo to help monitor their condition, providing healthcare beyond the clinic setting.
Mr Marjan Mikel, managing director of Respiri said, “The joint development agreement with Phenix underscores our commitment to patients with asthma and related respiratory disease in Australia during the COVID-19 pandemic.
‘’By increasing awareness and access through Phenix’s leading telehealth platform, innovative technology solutions such as wheezo will support more effective monitoring of a patient’s underlying condition to better empower patients and their treating physicians in the management of their condition during this critical period and beyond.”
Ms Gillian Alexis, Chief Executive of Phenix Health commented that the group was keen to pursue other initiatives with Respiri in saying, “This ground-breaking partnership represents an improvement in quality of life for the world’s 340 million asthma sufferers and will provide primary care providers as well as respiratory specialists with new key insights to help patients manage their asthma proactively.
‘’We look forward to evolving new longitudinal models of care with Respiri that are focused on measurable outcomes by complementing traditional brick and mortar services.”